To hammer down high prices of liquefied natural gas (LNG), India and Japan have come together to buy the fuel jointly. India and Japan are the two biggest buyers of LNG in the world. India’s Oil Secretary Vivek Rae said this on the sidelines of the 8th Asia Gas Partnership Summit in Delhi.
India and Japan fell that LNG sold to Asian countries is priced more than that supplied to consumers in Europe and the US. In October, 2012, the two countries have agreed to carry out a joint study to examine ways to mitigate increasing import costs in Asia as well as to maintain stable supplies of LNG to the region.
The two countries agreed in last September to work together towards the development of LNG markets that will enable effective, stable and globally competitive LNG procurement.
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